Parkway Minerals
Parkway Minerals (ASX:PWN) aims to extract potassium - for the production of potash - from one of the world's largest greensand deposits.
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Potash West's oversubscribed raising to advance Dinner Hill Phosphate
Potash West (ASX:PWN) has attracted new institutional investors in an oversubscribed placement, with the funds to advance its world-class Dinner Hill Phosphate project.
The company sought to raise $1.5 million, but strong demand allowed $1.8 million to be raised before costs.
The placement was completed at $0.04 per share plus ½ a $0.07 option.
Pat McManus, managing director, commented:
"We are very pleased with the support received for this capital raising, particularly in what are challenging times for the junior resource sector.
"We will now look to accelerate the progress on our Dinner Hill phosphate project in the Dandaragan Trough north of Perth, Western Australia."
Analysis
Potash West has raised $1.8 million in an oversubscribed placement, which is a strong achievement in the current difficult capital markets.
Other Parkway Minerals news
- Parkway Minerals granted US patent for its potassium extraction process
2018-05-31 - Parkway Minerals' shares up on back of increase in Davenport Resources' potash resource
2018-04-17 - Parkway Minerals leveraged to growing demand for fertiliser products
2018-03-06 - Parkway Minerals NL samples high grade potash at Lake Barlee
2017-05-30 - Parkway Minerals sees Davenport IPO as rare potash opportunity
2016-12-08
